Conversions are a very important metric in your analytics and should always be tracked, but what makes them so important?
To answer this question, you first must know what is a conversion. A conversion can be as simple as someone coming to your landing page or as big as a sale. It all depends on the campaign and what it’s trying to achieve. If you put the definition of a conversion into the simplest of explanations, it’s basically getting someone to take an action that you enticed them to take.
So let’s say for example you’re sending out an email blast. Within that email blast contains a link for a special you’re running for the month. When someone clicks on that link, it takes them to the landing page for the product you are running the special on. By them clicking on the link, that’s considered a conversion because the main objective of the email blast was to get people to click on that link.
So back to my question before — why are conversions important? When you step back and take a look at your overall marketing funnel, there’s going to be different layers. Within those layers are strategies that help nudge people down the funnel to an eventual close or sale. Conversions are one of those strategies. In fact, you’ll probably have conversions happening on multiple, or even, all the layers within your marketing funnel.
These conversions help take the lead and move them to the next layer or step in the buy cycle. By measuring your conversion rate, you’ll know whether or not your marketing funnel is working properly. Not everyone is going to be buy-ready when entering your marketing funnel. Some may land in the middle or some may be at the starting line. These leads are going to need help to make their way down the funnel. If your conversion rate is solid, you’ll know that you are doing a good job of moving your leads down the funnel.
If you’d like to learn more about conversions and what they do for your overall digital marketing plan, take a look at the short video clip above.